Although the main purpose of Nano is to serve as a currency (i.e. medium of exchange versus a store of value), it inherently has the potential to rise in value due to the fixed supply of 133,248,290 Nano. Like other cryptocurrencies, the Nano price is driven by both speculative demand and the ability to spend it on real-world products and services.
The best way to increase the utility of Nano is by accepting it as a merchant, or asking merchants to accept it as a payment method at their stores. Although you may be reluctant to spend Nano because it could potentially appreciate in value in the future, remember that a currency is only as good as what you can buy with it. An effective way to support the Nano economy while maintaining your net position in it, is by spending Nano liberally then replenishing the same amount to your holdings, at an exchange.
Factors that may impact the price of Nano include, but are not limited to the following:
- New crypto exchange listings and fiat on-ramps
- Resilience of the directed acyclic graph (DAG) against attacks
- Scalability of the block lattice to theoretical 7,000 tps (transactions per second)
- Incentive to run full nodes that support the speed and integrity of the Nano network
- Availability of supporting services such as payment gateways, APIs and marketplaces.
- Merchant acceptance and real world demand
- Government attitudes towards cryptocurrency regulation
Below is our price targets for Nano based on market cap analysis against other comparable cryptocurrencies.
Bitcoin, Bitcoin Cash, Litecoin are examples of traditional proof of work (PoW) currencies that could serve as a measuring stick for Nano’ addressable market and potential growth.
IOTA, ByteBall and SkyCoin are examples of directed acyclic graph (DAG) coins that share a similar underlying technology to Nano, but may have a different focus than P2P payments; for example, machine-to-machine communication (IOTA) or smart contracts (ByteBall).
Please check back later for a price prediction.
Short Term (3-6 Months): To be determined
Medium Term (1 Year):To be determined
Longer Term (2-3 Years): To be determined